Malaga Cove Capital LLC Has $489,000 Holdings in Carrier Global Co. (NYSE:CARR)

Malaga Cove Capital LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 32.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,161 shares of the company’s stock after purchasing an additional 1,762 shares during the period. Malaga Cove Capital LLC’s holdings in Carrier Global were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Czech National Bank boosted its position in Carrier Global by 5.8% in the 4th quarter. Czech National Bank now owns 180,919 shares of the company’s stock valued at $12,350,000 after buying an additional 9,892 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Carrier Global by 2.5% during the fourth quarter. Wedmont Private Capital now owns 21,298 shares of the company’s stock valued at $1,416,000 after acquiring an additional 519 shares during the period. Cooper Financial Group boosted its holdings in Carrier Global by 8.3% in the fourth quarter. Cooper Financial Group now owns 3,561 shares of the company’s stock valued at $243,000 after acquiring an additional 272 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in Carrier Global in the fourth quarter worth about $2,213,000. Finally, Code Waechter LLC acquired a new stake in Carrier Global in the fourth quarter worth about $220,000. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARR. Barclays raised their target price on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Royal Bank of Canada lifted their target price on shares of Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their price objective on Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.53.

Carrier Global Trading Up 1.7%

NYSE CARR opened at $74.69 on Wednesday. The company has a market cap of $64.03 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average is $64.08 and its 200 day moving average is $67.95.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.20%. Carrier Global’s dividend payout ratio is 13.93%.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.